Industry ministry rallies government teams to counter US trade headwinds

The industry ministry said Wednesday it has mobilized relevant government agencies into a unified team to address growing trade uncertainties with the United States. Park Jeong-seong, the newly appointed head of trade negotiations, chaired the 59th Trade Promotion Committee at the Government Complex Sejong, his first time leading the body since taking office.

Officials reviewed recent developments in US trade issues and discussed response strategies covering tariffs, non-tariff barriers, and direct investment plans. The ministry emphasized that close information sharing among agencies would support stable exports and investments by Korean companies.

Participants also deliberated on plans to advance bilateral free trade agreements with Argentina and Uruguay to expand cooperation networks into major South American markets, building on public hearings held in July where the ministry gathered opinions from citizens, stakeholders, and experts.

With the G20 Trade Ministers' Meeting scheduled for September 30 to October 1, the committee reviewed discussion trends on key agenda items.

"In this climate of high uncertainty, it is crucial to respond to US trade issues without wavering," Park said. "At the same time, we must diversify our trade network into new markets such as Latin America and actively reflect our position in multilateral stages like the G20."

Park urged relevant ministries to share a tight understanding of the situation and pool their capabilities to respond as one team. The government plans to solidify this inter-agency cooperation system through the committee to ensure seamless responses to major trade issues including those with the US.